Questions by year, frequency and marks

Filter the question bank. Frequency is how many papers a question appears in. Marks follow the common OU pattern: Part A 6, Part B 15, Part C 10.

1259 questions in this view, sorted by frequency.

Quick marks: 6 · 10 · 15 · clear

Marks Question Subject Years Frequency
10 The assessee has filed an incorrect wealth tax return, for the A.Y . 2009-10, belatedly after the valuation date, and subsequently died after the wealth tax officer completed the assessment. The wealth tax officer has taken the value of the property as on the date of filing the return and imposed penalty on various counts. Since the assessee died after passing of the orders, the wealth tax officer issued the demand notice on the legal representatives of the deceased assessee. Is there any ground to defend the case of the legal representatives of the deceased assessee? Advise. Law of Taxation 2012 1×
10 The assessee has purchased house property in the year 1989. Subsequently he invested a sufficient amount for extension and improvement in the year 1993. He sold the house for Rs. 85 lakhs in July, 2012. After calculating the index value of the cost price and improvement of the property as on 2012, the capital gain arose was Rs. 69,50,000. The assessee has deposited this capital gain in a capital gain account with SBI for a lock-in period of 3 years. The assessee did not invest the capital gain in purchase of a house nor in constructing a house. After maturity of the deposit, can the assessee withdraw the deposit? If so, what is the procedure? If he does not invest as required, is the assessee liable to pay the tax? Law of Taxation 2013 1×
10 The assessee is a naval officer. He is planning to take a housing loan of Rs. 20 lakh. The assessee seeks your advise that if he gets the possession of the house only after one year, but he starts paying interest, will he get income tax rebate? Advise. Law of Taxation 2012 1×
10 The assessee is the owner of an old flat built in 1979. There are 12 flats and all flat owners decided to hand over their flats for redevelopment. The builder agreed to hand over a new flat along with a compensation of Rs. 10 lakhs to each flat owner and retain the rest of the flats. Is the compensation taxable or not? What will be the tax liability for the exchange of new flat for the old one? If the assessee is liable for any tax, advise your client how to avoid the tax liability. Law of Taxation 2014 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. In the month of April 2013 he became a senior citizen. Since he has attained 60 years of age and his income is much below the exempted income of Rs. 2,50,000/-, he has filed a nil return. The assessing officer advises the assessee. Law of Taxation 2013 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. His taxable income for the financial year 2017-18 was Rs. 2,85,000/-. In the month of April 2018 he became a senior citizen. Since he has attained 60 years of age, and since the exempted income for a senior citizen is Rs. 3,00,000/-, he has filed a nil return. The assessing officer assessed the income and levied tax and interest. You as the consultant advise the assessee. Law of Taxation 2019 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. His taxable income for the financial year 2009-10 was Rs. 1,80,000/-. In the month of April 2010 he attained the age of 65, and his income is much below the exempted income of Rs. 2,40,000/-, so he has filed a nil return. The assessing officer assessed the income and levied tax and interest. You, as the consultant, advise the assessee. Law of Taxation 2018 1×
10 The assessee is a salaried person. He has paid tuition fees for the post-graduation of his wife. The assessee claimed rebate on tuition fee under section 80C under Chapter VIA. The ITO rejected his claim and levied tax. Whether the order of the ITO is correct or not? Law of Taxation 2012 1×
10 The assessee is a senior citizen aged 62 years. He draws pension of Rs. 3.5 lakh per annum. He was given approval for deduction u/s 80U by the income tax officer for the Annual Year 2012-13, availing the present deduction of Rs. 1,00,000 against the approval issued in 2012-13. The allowable deduction rate at that time was Rs. 70,000. Can he avail this deduction every year in the subsequent years despite his disability being permanent in nature, without referring the matter every year to the Income Tax Officer? Advise your client. Law of Taxation 2018 1×
10 'X', an assessee, transfers some of his assets to 'Y' during the pendency of the proceedings under the income tax act with a view to defraud the revenue. Is this transfer valid? Discuss. Law of Taxation 2020 1×
10 The assessee is working with a multinational company in Pune. She pays rent to her flat owner and maintenance charges to the owner's association. But her employer refuses to consider the maintenance charge while calculating rebate on rent, stating that the Income Tax Act mentions rent only. Is she right in her approach? If so why, and if not, why not? Explain. Law of Taxation 2012 1×
10 'A' company is formed solely to do the business of building houses and letting them on rent. Is this income of the company taxable? If so under what head of the Income? Law of Taxation 2023 1×
10 Explain the conditions for taking Input tax credit. Law of Taxation 2018 1×
10 Draft a pro forma of statement of Income showing the computation of income from salary. Law of Taxation 2012 1×
10 Draft a proforma of statement of income showing the computation of income from the heads of income from Salary, House property, Profession and other sources, and arrive at taxable income by applying sections 10(13A), 10(14), 16, 24, 80E, 80DDB, and 80C at appropriate places. Law of Taxation 2014 1×
10 Draft a proforma of statement showing the computation of income from house property, income from profession and income from other sources, applying the following sections: Sec. 10(13), Sec. 19, Sec. 10(14), Sec. 24, Sec. 80E, Sec. 80G, Sec. 80C. Law of Taxation 2015 1×
10 An employee retires from service and his monthly pension is fixed at Rs. 3,000/- p.m. He commuted Rs. 2,500/- out of his pension and received Rs. 2,00,000/- as commuted value of pension. Work out the amount of commuted pension of the employee both where (1) the employee received Gratuity, and (2) the employee did not receive gratuity. Law of Taxation 2019 1×
10 'A' an export and import firm at Hyderabad, imported goods sent from 'E' of Germany and sold it to an Indian buyer at Bombay after obtaining clearance from customs, and claimed exemption. But the assessing officer levied tax under the CST Act. The assessee wants to file an appeal against the orders of the assessing officer before the appropriate appellate authority. Advise your client. Law of Taxation 2012 1×
10 'A' a government employee draws Rs. 20,000/- p.m., receives HRA of Rs. 24,000/- and he resides in his own house. He paid total house loan principal of Rs. 15,000/-, tuition fee Rs. 30,000/-, PF Rs. 60,000/-, LIC Rs. 10,000/-. He resides in a private hospital where he was treated by a general physician. He has undergone treatment for renal failure and claimed deduction u/s 80DDB. Law of Taxation 2016 1×
10 'A', a government employee, draws Rs. 20,000/- p.m., receives HRA of Rs. 24,000/- and he resides in his own house. He paid total house loan principal of Rs. 15,000/- and interest Rs. 60,000/-. He paid PF Rs. 10,000/-, LIC Rs. 5,000/-, and Tuition fee Rs. 30,000/-. He has undergone treatment for renal failure in a private hospital where he was treated by a general physician, and he has claimed deduction u/s 80DDB. You as an assessing officer, calculate his taxable income. Law of Taxation 2017 1×
10 The gross total income before deduction under section 80C of a resident individual, aged 64 years, is Rs. 3,20,000/- and total income after deduction under sec. 80C is Rs. 2,85,000. Is it necessary for him to submit his return of income voluntarily? Law of Taxation 2023 1×
10 'A' had a net wealth of Rs. 20 lakhs on 01.04.2006. However, due to a fire accident on 01.03.2007 he lost assets worth Rs. 6 lakhs. Decide the liability under the Wealth Tax Act. Law of Taxation 2020 1×
10 A has a house property which was let out during the financial year 2016-17, at Rs. 25,000/- p.m. He paid municipal tax Rs. 3,500/- p.a., premium on fire insurance Rs. 3,500/- p.a., paid house loan principal Rs. 30,000/-, and interest Rs. 65,000/- p.a. from HDFC, and paid house loan principal and interest towards the assessment year 2017-18. Law of Taxation 2016 1×
10 A has a house property which was let out during the financial year 2016-17, at Rs. 25,000/- p.m. He paid municipal tax Rs. 6,000/- p.a., premium on fire insurance Rs. 3,500/-, and paid house loan principal Rs. 30,000/- and interest Rs. 65,000/- p.a. from HDFC. Compute the net taxable income from house property for the assessment year 2017-18. Law of Taxation 2017 1×
10 "X" an importer at Delhi imported the goods from "Y" of London and after getting clearance from customs he sold the goods to a buyer in India, and claimed exemption. But the sales tax officer, rejecting the claim of "X", levied tax under the Central Sales Tax Act, treating it as a sale in the course of import and not an interstate sale. Whether the assessing officer is correct or not? Law of Taxation 2015 1×
10 'A' an importer at Hyderabad imported the goods from 'B' of U.S.A. and after getting clearance from customs he sold the goods to a buyer in India at Mumbai and claimed exemption as a sale in the course of import. But the assessing officer levied tax under central sales tax, treating it as an interstate sale and not a sale in the course of import. Whether the assessing officer is correct? Assess the correctness by giving reasons. Law of Taxation 2014 1×
10 'X' Ltd. is an Indian Company and subsidiary of an American company manufacturing and selling copier machines. The Indian company among other things purchases and sells these copier machines also. Is the Indian Company 'X' Ltd., a subsidiary of the American Company, liable to sales tax in India? If so under what Act? Explain. Law of Taxation 2022 1×
10 Mr. 'A' constructed a house and claimed deduction of interest on such amount from his salary income. The income tax officer disallowed the deduction. Explain the remedy available to the assessee, and whether the decision of the ITO is justifiable? Advise. Law of Taxation 2021 1×
10 Mr. X involved in manufacturing of Toys, has his manufacturing at head office at Visakhapatnam. The head office took orders from buyers at its head office and got the toys manufactured at Chennai, and used to deliver them from the head office at Visakhapatnam. The Andhra Pradesh Government started collecting sales tax on the ground that it is an inter-State sale. Mr. X contended that it is not an inter-State sale. Advise. Law of Taxation 2021 1×
10 Mr. Madhu is a practicing advocate. His wife 'Roja' works in his law firm and draws a salary of Rs. 25,000/- while computing the total income for Mr. Madhu, the assessing officer clubbed the salary of his wife. Discuss. Law of Taxation 2020 1×
10 Mr. 'A' started a partnership business with his major son and also admitted his minor son to the benefits of the firm. The income tax officer has included the share of the minor son's income in the income of Mr. A. Decide whether the decision of the ITO is justifiable. Law of Taxation 2021 1×
10 A person has sustained a loss of Rs. 1 lakh in his speculative business. He wants to claim set-off of this loss from his income of Rs. 30,000 received under the head income from house property. Will he be allowed to do so under the law? Decide with reasons. Law of Taxation 2023 1×
10 Prepare the draft proforma of computation of Income from Salary, House property, applying the provisions of Sections 10(3), 16, 24, 80DDB, 80E, and 80C appropriately. Law of Taxation 2017 1×
10 Prepare the draft proforma of computation of Income from Salary, House property applying Income from other sources and pertaining to his heads of income from Salary, House property and other sources, applying the provisions of Sections 10(3), 16, 24, 80DDB, 80E, and 80C, appropriately. Law of Taxation 2016 1×
10 Prepare the proforma statement of income showing computation of income from salary, house property, applying the following sections correctly: Sec. 316, 10(13), 10(14), 80DDB, 80G, 24, 30% statutory deduction, Deduction under Chapter VIA - 80C. Law of Taxation 2022 1×
10 Explain the taxability of the following incomes: (a) Fixed car allowance of Rs. 1,500/- per month. (b) Fixed Medical allowance paid to the employee. Law of Taxation 2020 1×
10 Explain the taxability of following perquisites: (a) Free education (b) Free lunch and refreshments (c) Interest free loan (d) Free supply of gas, electricity and water. Law of Taxation 2021 1×
10 A, while travelling in TSRTC bus, meets with an accident and is temporarily disabled. TSRTC pays an amount of Rs. 10,000 as compensation to him. State whether the amount is revenue receipt or capital receipt. Law of Taxation 2023 1×
10 In the year 2020, the assessee took a personal loan and invested the money in the National Savings Certificate. Since he did not make this investment from his taxable income, he did not claim tax deduction under section 80C. In the subsequent years, interest income accrued on the NSC would form part of "income from other sources". Your client seeks your advice as to whether he can claim deduction for the interest accrued, which will be invested every year for the next five years. How should NSCs received as a gift be treated? Advise. Law of Taxation 2022 1×
10 'X' abuses 'Y', Who takes out his pistol and says to 'X', 'the next time you use such language, I will kill you'. Is 'Y' guilty of assault? Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2022 1×
10 X was admitted in a Government hospital for a minor surgery, and due to negligence of Doctor and Staff, he became paralytic. He wants to file a case against the hospital. Advise him. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2022 1×
10 Y was admitted in a hospital for treatment/surgery of the eye. Due to the negligence of the ophthalmologist surgeon, Y lost his eyesight. Discuss the liability of the hospital authorities. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2022 1×
10 A, an ayurvedic doctor prescribed allopathic medicines, which caused the death of a patient. Decide the liability of the ayurvedic doctor under the Consumer Protection Act. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2022 1×
10 'X' a banker refuses to honour customer's cheque having sufficient funds in his hands belonging to the customer. Customer intends to file a suit against the banker, will he succeed? Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2021 1×
10 A, a bus conductor, drives the bus and it collides with a van. Is the owner of the bus vicariously liable for the accident? Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2012 1×
10 'X' was called to his office on the pretext for some enquiry and was made to sit there in the waiting rooms till the police arrived to arrest him. He wants to file a case against his employer. Discuss. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2019 1×
10 Y a cartoons drew caricature resembling X a politician, which depicted that X was involved in a liquor scam. What wrong if any committed by Y. What is his liability. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2023 1×
10 A circus lion escapes and injures a small child. Discuss the liability of the management of the Circus. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2022 1×
10 A Corporation purchased nine cars from an automobile dealer for the purpose of its executives. There was a manufacturing defect in one of the cars purchased by the corporation and desires to file a complaint before consumer forum. Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2023 1×
10 A's cow strays into the B's garden and breaks the flower pots. What is the remedy available to B? Law of Torts including Motor Vehicle Accidents and Consumer Protection Laws 2012 1×